By Choosing The Big Banks Over The Little Guy, The Government Is Dooming BOTH

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Washington’s Blog
Aug 21, 2011

Should Government Help the Little Guy or the Big Banks?

If the government is going to give anyone money, giving it to the little guy is arguably more fair than giving money to Wall Street fatcats.

Moreover, as Steve Keen demonstrated mathematically in 2009, giving money to the debtors is much better for stimulating the economy than giving it to thecreditors.

In addition, because runaway inequality causes depressions, helping out the little guy helps to stabilize the economy.

Government Has Picked Winners and Losers

The big banks were all insolvent during the 1980s.

And they all became insolvent again in 2008. See this and this.

The bailouts were certainly rammed down our throats under false pretenses.

But here’s the more important point. Paulson and Bernanke falsely stated that the big banks receiving Tarp money were healthy, when they were not. They wereinsolvent.

  • A d v e r t i s e m e n t
  • By Choosing The Big Banks Over The Little Guy, The Government Is Dooming BOTH

Tim Geithner falsely stated that the banks passed some time of an objective stress test but they did not. They were insolvent.

Both the creditors and the debtors were mortally wounded by the 2008 financial crisis. The big banks wouldn’t have survived without trillions in handouts, guarantees, loans, idiot-proof profits courtesy of the government.

The little guy hasn’t been helped since 2008. He has been left to suffer with his life-threatening wounds. See thisthis and this.

So the government chose sides. The creditors were wiped out, just like a lot of Main Street was wiped out. In one sense, the government chose who would live (the giant banks and other bailed out and favored companies) and who would die (the other 99%).

But in fact, the big banks were no longer creditors after the 2008 crash. Specifically, the big banks which held the mortgages and the loans were wiped out.

The government moved the arms and legs of the big banks to pretend they were still alive … and have been doing so ever since. But they were no longer going concerns after they went bust.

The government pumped blood back in these dead banks and turned them into zombies. They will never come back to life in a real sense … they are still zombies, 3 years later.

By Choosing Wall Street Over Main Street, the Government Has Doomed the Economy

Many of the world’s leading economists and financial experts say that by choosing creditors over debtors, the government is dooming the economy. See this and this.

The big zombie banks can never come back to life, and – by trying to save them – the government is bleeding out the little guy.

By choosing the big banks over the little guy, the government is dooming both.

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2 Responses to “By Choosing The Big Banks Over The Little Guy, The Government Is Dooming BOTH”

  1. Yeah pretty much

  2. Washington’s Blog: “Should Government Help the Little Guy or the Big Banks?”

    The government borrows from the REALLY big banks, to give to the so-called big banks.

    In fact, the government has borrowed every dollar in circulation from the REALLY big banks. And that is the primary problem. The fact the government has given away some of those dollars to so-called big banks, is a far secondary problem. Washington’s Blog is doing what most pseudo-protesters do: sweating the details in order to take public attention off the big picture – making sure they can’t see the forest for the trees.

    The REALLY big banks are are the 12 private banks that create out of thin air, the private currency used in the United States. They are:
    A 1 Federal Reserve Bank of Boston
    B 2 Federal Reserve Bank of New York
    C 3 Federal Reserve Bank of Philadelphia
    D 4 Federal Reserve Bank of Cleveland
    E 5 Federal Reserve Bank of Richmond
    F 6 Federal Reserve Bank of Atlanta
    G 7 Federal Reserve Bank of Chicago
    H 8 Federal Reserve Bank of St. Louis
    I 9 Federal Reserve Bank of Minneapolis
    J 10 Federal Reserve Bank of Kansas City
    K 11 Federal Reserve Bank of Dallas
    L 12 Federal Reserve Bank of San Francisco

    • Each of the 12 “Federal”-reserve banks has an ID code, and you can see the values of the code on the left of each line in the above list (for example “A 1″ for the “Federal”-Reserve Bank of Boston) . Every “Federal”-Reserve note carries this code to left of the American-hero portrait. For example, if you see a “B 2″ to the left of George Washington on your dollar bill, you know your bill was created out of thin air by the “Federal”-Reserve Bank of New York.

    These “Federal”-reserve notes get into circulation by the government BORROWING them at interest. The government prints up interest-bearing bonds(Treasury securities) and pledges them as security on loans from the 12 banks. And when the Treasury securities come due, the government print up more of them for a bigger amount, and repeats the process, and so on ad-infinitum – or at least until the private “Federal”-reserve Ponzi scheme crashes, or the natives revolt.

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